The Reliance group has decided to prepay its entire outstanding loans of Rs 1,100 crore with the domestic financial institutions by September 30 next year.
The group has to pay back Rs 500 crore more to ICICI, Rs 500 crore to the Industrial Development Bank of India and Rs 100 crore to the Industrial Finance Corporation of India.
The loans were taken by various Reliance group companies including Reliance Industries and Reliance Petroleum to finance the group